Europe’s biggest corporation is taking over Catalent, which runs a factory in Bloomington. The Federal Trade Commission approved the deal Saturday.
Novo Holdings, parent company of the pharmaceutical giant Novo Nordisk, is spending $16.5 billion on the acquisition. It will also purchase three Catalent plants, including Bloomington’s for an additional $11.7 billion.
The company announced in February that it’s boosting manufacturing capacity for Wegovy, a popular weight loss drug and diabetes treatment. Novo Nordisk told WFIU/WTIU then that all employees at the three plants will transfer with the deal. That’s after layoffs in the past few years at Catalent as it cut back after a pandemic-era windfall.
The FTC approved the takeover despite objections from critics, such as Sen. Elizabeth Warren, who worry it could raise drug prices by lowering competition. Earlier this month the European Union also approved the deal, which includes two Catalent sites in Europe.
Novo Nordisk is Europe’s most valuable company, surpassing Denmark’s entire GDP this year.
